Sourceable Limited (07714150): administration
- Status
- Administration ended
- Administration began
- 2019-12-10
- Administrators
- Stephen John Absolom, William James Wright
- Administrators' firm
- KPMG
- Incorporated
- 2011-07-21
- Location
- London
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Funding withdrawn / unable to refinance
- Rising costs / inflation
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The group comprises the following companies (together ‘the Group’)
The entity that is subject to this SIP 16 memorandum of sale of business is Sourceable Limited (‘the Company’)
The Company was founded in London in 2013 and was an online and design-led furniture and homewares retailer Since 2013. the Company sought high revenue growth through numerous rounds of venture capital funding. The Company's shareholders were Octopus funds (46%), Index Ventures funds (16%), directors Bnan Hamson and Debbie Williamson (‘the Founders’) (19%} and others (19%).
Administrators' statement of proposals (2020-01-07) · Companies House register